How to decide between Whole life insurance and Term life insurance
The process of choosing an appropriate life insurance policy for the safety of yourself or for the family member against any unexpected events is a complex task because today's insurance market provides diverse policy options. The process of selecting suitable life insurance depends on multiple elements, such as your personal needs, budget and age. Understanding the difference between these life insurances is also necessary. What is term life insurance? Term life insurance policies give financial protection for a time period of 10 to 30 years that match the insurance policy terms and conditions. There is no chance to build up cash value when you buy this kind of insurance at a low cost. This life insurance is a good option for anyone who needs short-term financial stability. What is whole life insurance? Whole Life Insurance delivers lifelong protection together with a cash value accumulation system that grows throughout time; the premium is slightly higher, thus providing policy...